USDA v. Inputs Monitor - Illinois Nutrient Basis Analysis

Inputs Monitor Illinois basis stands at 1.38 on a state-state comparison of local fertilizer prices. Regional nutrient basis stands at 3.78 for the last half of September, 2012. The table below is a side-by-side comparison of prices reported by USDA and prices reported to your Inputs Monitor for the period 09/13/2012 through 09/27/2012. Inputs Monitor's Illinois numbers and Inputs Monitor Regional Index numbers are compared separately to USDA findings.

The widest basis in this Illinois comparison is in MAP where USDA pegs the price per ton at $629.00 - Inputs Monitor records a 4.1% difference to the high side at $655.00. Beyond that, all other statewide basis values come in at or below +/-2.9%. Anhydrous USDA price came in at $833.75 with Inputs Monitor pricing index off by -0.5% at $829.00. UAN28 - USDA at $376.00, 2.9% below Inputs Monitor Illinois at $387.00.

When UDSA numbers are compared with the Inputs Monitor Regional Index total average for the period, basis tends to swell coming in 3.78 to the good.

MAP leading advances, up 4.25% to $655.75. Potash was off by -0.54% at $601.67 compared to USDA's $605.48. Inputs Monitor and USDA spread at +/-4.25% for MAP. Excluding the price for MAP - both statewide and regional basis was up over 4% - all regional prices came in +/-0.54%.

09/27/12 USDA vs Monitor

USDA, IL

Inputs Mon., IL

+/- %

Inputs Mon., Index

+/- %

Anhydrous

$833.75

$829.00

-0.5%

838.17

-0.53%

UAN28

$376.00

$387.00

+2.9%

376.08

+0.02%

DAP

$632.39

$632.00

-0.06%

634.00

+0.31%

MAP

$629.00

$655.00

+4.1%

655.75

+4.25%

Potash

$605.48

$604.00

-0.24%

601.67

-0.54%

Farm Diesel

$3.68

$3.76

+2.1%

3.69

+0.27%

Basis

+1.38

+3.78

(Prices for LP and urea were omitted by USDA from their survey, and, therefore, do not appear in this analysis.)

Keep an eye on your Inputs Monitor at profarmer.com, and look for more basis and pricing updates as information becomes available.